Oil prices steadied on September 21st as market participants focused on ongoing supply risks in the Middle East and intensified diplomatic initiatives aimed at de-escalating the US-Iran war. Brent crude traded close to $104 a barrel, following a three-day decline, while West Texas Intermediate (WTI) futures were below $100.
The stabilization comes amidst continued concerns about Middle Eastern geopolitical tensions impacting oil supplies. The diplomatic efforts to resolve the US-Iran conflict are seen as a potential factor in easing some of these market anxieties.
